Azerbaijan Interest Rates

The Azerbaijani economy with a population of 9.49 M (est 2014) ranks 71st in the world. It has a GDP PPP of $102.8 Billion and GDP PPP per capita of $11,044 vs. $53,101 (United States) according to the IMF in 2013. The national currency is the Azerbaijani manat (AZN) that is issued by Central Bank of Azerbaijan (www.nba.az). Local banks in the country offer fixed-term deposits including multi currency deposits denominated US dollars or Euro. Inflation in the country was estimated to be 2.4% in 2013 and 1.1% in 2012 by the CIA.gov website.

Azerbaijan Discussion Activity

Access Bank - DepositsQ: Dear Sir / Madam ,
I am living in Hungary , and interesting your 1 year term deposit in Manat (AZN) . What is you advertised . Do I need to visit your branch Bank in Baku to open my deposit account . How does it the process ??
Also , what is the tax deduction on profit , do I have to pay ??
Kind regards
Sandor Boros

Access Bank - Deposits - Access Bank 1 Year Term DepositQ: Dear Sir/Madam;
I am living in Qatar; can i open bank account in Azerbaijan; what is the procedure, do i need to visit there to open Deposit Account for 1 year. And what is the tex deduction on profit. Waiting for your prompt reply.
Regards;
Haroon Naseem

R: Hi to open any bank account you need to reside in that country legally not as tourist, for instance international student can open account as they legally established their residency in that country so you don't have to be citizens but need to establish your residency as tourist maximum you can stay 3-6 months but you are not entitled to open your saving accounts as term requirement is upto 1 year. So I hope you get it. And off course you need to disclose your legal citizenship with income proof like instance you can't deposit $ 200000 in such low income countries. And if they allow you they put restrictions like can not withdraw $200000 at same time because they need to arrange that big money. You will be surprised if let say you have $10000 and want to withdraw incase of urgency you might get $3000 only at partical branch.